Made in America Manufacturing Finance

Summary#

This bill defines a "small manufacturer" and raises certain loan size limits for those manufacturers under two federal small-business programs. A "small manufacturer" is a small business whose main activity is in NAICS sectors 31–33 (manufacturing) and whose production facilities are all located in the United States.

The bill amends the Small Business Act to increase several SBA 7(a) loan size limits for borrowers that qualify as small manufacturers. In plain terms, it raises some 7(a) maximums to $7,500,000 and $9,000,000 in specified places, allows up to $8,000,000 of that $9,000,000 to be used for working capital, supplies, or certain export financings, and raises the export loan cap for small manufacturers to $10,000,000 in one provision. The bill also amends the Small Business Investment Act to increase a referenced loan limit from $5,500,000 to $10,000,000.

What it means for you#

  • If your business meets the bill's definition of a small manufacturer (manufacturing NAICS 31–33 and all production facilities in the U.S.), you would be eligible for larger SBA 7(a) loans under the amended limits.
  • The bill specifies higher maximum loan amounts for general purposes and export-related financing, and places a limit on how much of a larger loan may be used for working capital and supplies in one provision.
  • Qualification, application, interest rates, fees, and other lending terms are not changed in this text and are governed by existing SBA rules unless amended elsewhere.

Expenses#

No publicly available information on estimated federal costs or budgetary effects is included in the bill text provided.

Proponents' View#

No publicly available information about supporters' arguments or statements is included in the provided material.

Opponents' View#

No publicly available information about opponents' arguments or statements is included in the provided material.